Franchising is a proven business model that can increase the chances of your success, and reduce the possiblity of failure. Franchising can provide you a lifestyle of financial freedom and independence. You are in business for yourself, but not by yourself. Below are some of the reasons why you should decide to own and operate a franchise concept instead of an independent business opportunity.
- Less Risk: Because franchising is based on a proven system of processes and procedures, this will increase the probably of your success. There are operators already in the system. There is no need for you to spend additional time and money trying to figure out how to build the model and if it will work. If you could see a brand that is in existence today, well recognized, and you know the success rate up front, wouldn’t you agree that this means less risk to you as you consider opting in?
- Quick Start: Because the business model already exists there is no need to allocate time and money to figure out how to get your products or services to market. The policies and procedures, equipment, products, and services are currently implemented. Marketing and trade secrets are developed and yours to use. Training and operational manuals are complete. The franchiser will be with you through every step of the process including site selection, lease negotiation, layouts, design, construction, set up, equipment procurement, training, staffing grand opening, marketing, and on going operational support. With most franchises you can be operating in 120-180 days. And remember time is money.
- Greater Productivity: Think how productive you will be if everything is already completed and all you need to do is focus on building your business and taking care of your customers. In franchising, you are given the system and the tools and all you need to do is execute with excellence.
- Track Record: Franchises have locations already operating. You can see them, touch them, and learn about the business before investing. It is important to speak to existing franchisees and consumers about their experiences before you buy. You can see for yourself, the successes and the challenges of operating the business.
- Resources: The Franchisor has many experts on staff that will help you with technology, operations, marketing, new development, training and human resources. Not to mention buying power and discounts. You are part of a larger entity, so you get to take advantage of that relationship. There is continuing on going support from the Franchisor, something you would not get if you opened on your own. But it doesn’t stop there. You will also have access to all the other franchisees in the system to share experiences and best practices with.
- Brand: If it is a franchise, they have many franchisees operating under a brand name that is easily recognized and trusted. Franchising stands for consistency. Consumers trust brands. They like brands because they know what to expect. There are immediate benefits from consumer recognition and trust.